Mthuli Ncube secures backing of IMF and World Bank

Mthuli Ncube secures backing of IMF and World Bank
Published: 10 October 2018 (4141 Views)
Today the Zimbabwe government led by the Minister of Finance and Economic Development, Hon. Prof. Mthuli Ncube held a crucial meeting with co-operating partners and International Financial Institutions to discuss and map the way forward on the country's Arrears Clearance Road Map in Bali, Indonesia.

The meeting was chaired by the World Bank Group and was attended by the all three International Financial Institutions (IFIs), the African Development Bank, the International Monetary Fund and the World Bank Group, Paris Club Group of creditors as represented by the French, the European Union, and other key bilateral partners such as the United Kingdom, United States of America, Australia, Netherlands, South Africa, among others.

In ensuring discussions, the Minister of Finance and Economic Development, Hon. Prof. Mthuli Ncube made a presentation on policy reforms being undertaken by the New Dispensation, focusing on the Vision 2030, as enunciated by His Excellency, the President and the Transitional Stabilisation Programme (TSP), which is the policy implementation programme of Vision 2030.

The Minister's presentation centered on political and economic reforms being undertaken by Government, especially fiscal consolidation, state enterprises reforms, monetary sector reforms and a road map on arrears clearance.

The co-operating partners expressed their endorsement to the Transitional Stabilisation Programme, as it captures adequately the policy reforms that Government is implementing in order to turn around the country's economic fortunes.

In this regard, the international community emphasized the need to judiciously implement the measures as outlined in the TSP. They reiterated that implementation of the TSP is crucial for arrears clearance. Furthermore, Zimbabwe's request for a more accommodative treatment under the Pari Passu principle received positive consideration by the partners.

On the other hand the French expressed their support and advised that it is critical that all the Paris Club Group of creditors have consensus in order to fulfill the arrears clearance process.

It is also important to note that all the cooperating partners and creditors present, uniformly expressed their partners for Zimbabwe and its arrears clearance Road Map, and that the meeting has been the best so far on Zimbabwe's arrears clearance process.

Shortly after the Roundtable meeting, the Minister met with the US Deputy Assistant Secretary of Treasury, Mr Erick Meyer. In discussions, the US showed that it is a friend of Zimbabwe willing to help. Mr Erick Meyer requested that Zimbabwe see ZIDERA in a positive way which was agreed to by the delegation.

Further, the US Treasury undertook to arrange meetings for the Minister in Washington DC with US Congressmen and other think tanks.

- Agencies

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Zimbabwe Women's seven's side coach steps down

by Staff reporter | 22 May 2019 | 57 Views

Guard against uncontrolled fires

by Thomas Murisa. | 22 May 2019 | 53 Views

Lack of Political will has brought unnecessary calamity

by Tinashe Eric Muzamhindo | 22 May 2019 | 76 Views

Mnangagwa faces impeachment

by Mandla Ndlovu | 22 May 2019 | 105 Views

Perence Shiri dissolves CSC board

by Mandla Ndlovu | 22 May 2019 | 69 Views

Zimbabwe Army steps in

by Mandla Ndlovu | 22 May 2019 | 79 Views

Chamisa's spin doctor attacked

by Mandla Ndlovu | 22 May 2019 | 72 Views

Counseling offered for Game of Thrones fans

by Mandla Ndlovu | 22 May 2019 | 66 Views

Nelson Chamisa rallies Zimbabweans

by Mandla Ndlovu | 22 May 2019 | 94 Views

Best/ top data transfer apps from iPhone to Android

by Staff Writer | 22 May 2019 | 63 Views

Chamisa reaches half a million mark

by Staff reporter | 22 May 2019 | 77 Views

Parly to undertake public consultations on review of Water Act

by Community Water Alliance | 22 May 2019 | 80 Views

Mnangagwa addresses a divided ZANU PF caucus

by Mandla Ndlovu | 22 May 2019 | 81 Views

Binga airstrip set for $4m upgrade

by Staff reporter | 22 May 2019 | 71 Views

Mnangagwa joins African Peer Review Mechanism

by Staff reporter | 22 May 2019 | 48 Views

BREAKING: Cyril Ramaphosa elected President of South Africa

by Mandla Ndlovu | 22 May 2019 | 57 Views

Jacob Mudenda blocks fuel situation debate

by Staff reporter | 22 May 2019 | 64 Views

Chamisa's MDC still to appeal High Court ruling

by Staff reporter | 22 May 2019 | 60 Views

Zimbabwean woman honoured with a life-size statue in New York

by Staff reporter | 14 May 2019 | 106 Views

Marriage certificates for couples to enter Sudan hotels

by Mandla Ndlovu | 14 May 2019 | 100 Views

BREAKING: Tsvangirai's daughter in horror crash

by Methusi Ncube | 14 May 2019 | 152 Views

Mnangagwa to tender resignation as Zimbabwe leader to avoid humiliating exit

by Itai Mushekwe/Mary-kate Kahari | 14 May 2019 | 229 Views

Mnangagwa 'defends' workers' rights

by Staff reporter | 14 May 2019 | 88 Views

R2m drug smuggling syndicate busted

by Staff reporter | 14 May 2019 | 89 Views

Nurse recruitment goes digital

by Staff reporter | 14 May 2019 | 122 Views

Gumbura, co-accused not fit for trial, claims Prof Madhuku

by Staff reporter | 14 May 2019 | 84 Views

Gweru left with 3 months' water supply

by Staff reporter | 14 May 2019 | 75 Views

SA police launch manhunt for Zimbabwean armed robber

by Staff reporter | 14 May 2019 | 48 Views

7-day ultimatum for illegal advertisers

by Staff reporter | 14 May 2019 | 83 Views

Mnangagwa urges Chamisa's MDC council to give Harare a facelift

by Staff reporter | 14 May 2019 | 76 Views

ZCDC finance director arrested

by Staff reporter | 14 May 2019 | 82 Views

Defiant in the face of a Tyrant

by Thabo Makuyana | 14 May 2019 | 82 Views

R470 000 fraudster arrested

by Staff reporter | 14 May 2019 | 78 Views

Madinda urges players to soldier on

by Staff reporter | 14 May 2019 | 71 Views

Mnangagwa is a worried man

by Staff reporter | 14 May 2019 | 110 Views

Robber 'rapes' shopkeeper

by Staff reporter | 14 May 2019 | 78 Views

Zinara ropes in CID

by Staff reporter | 14 May 2019 | 59 Views